The global targeted therapeutics market is valued approximately at US$ 67 billion in 2021 and is expected to reach over USD 128 billion by 2030. It is anticipated to grow with a healthy growth rate of 2.4% from 2021 to 2030.
The targeted therapeutics market report provides a detailed analysis of global industry size, share analysis, market segmentation growth, competitive landscape, sales analysis, covid-19 impact on market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.
Targeted therapeutics is the treatment of diseases using drugs that targets the cancer cells and blocks the proliferation of such cells without damaging normal cells. The growing burden of critical diseases such as cancer, leukemia, lymphoma, and muscular degeneration are the major factors that boost the adoption of targeted therapeutics among the global population.
According to the International Agency for Research on Cancer, in 2020, around 19.3 million new cancer cases and 10 million cancer deaths were reported across the globe. The global cancer cases are estimated to grow by 47% from 2020 to 2040. Moreover, the continuous investments in the biotechnology for the research and development programmes has resulted in the development of effective cancer treatment drugs. The growing adoption of technological advancements in the field of biopharmaceutical and rising consumer awareness regarding the safety of the targeted therapeutics is fueling the demand for the targeted therapeutics across the globe.
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Scope of the Targeted Therapeutics Market
| Report Highlights | Details |
| Market Size | USD 83.8 Billion by 2030 |
| Growth Rate | CAGR 2.4% From 2021 to 2030 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Type, Application, Distribution Channel, Geography |
North America is the leading consumer of the targeted therapeutics owing to the increased adoption rate and higher demand for the advanced and innovative products. The rapidly booming biologics industry is a significant factor that propels the growth of the targeted therapeutics market in North America. Further, the presence of numerous CMOs and CROs along with the various biopharmaceutical companies together contributes towards the market development. Moreover, the rising geriatric population, increased disposable income, presence of high-end technologies and developed healthcare infrastructure, and rising demand for the biologic drugs is fueling the growth of the targeted therapeutics in North America.
Asia Pacific is estimated to be the most opportunistic market owing the presence of huge population and growing burden of diseases. The rising disposable income, rising awareness regarding advanced drugs and therapies, and rapidly growing healthcare infrastructure is expected to drive the targeted therapeutics market in the region. Moreover, the rapid penetration of pharmacies, especially the online pharmacies is expected to play a crucial role in the growth of the targeted therapeutics industry in the forthcoming years.
The market is driven by the rising prevalence of various types of cancer such as breast cancer, lungs cancer, colorectal cancer, and benign tumors. The increased efficiency of the targeted therapeutic drugs to treat such deadly diseases with minimal side effects is a major driving factor of the market.
However, the high cost associated with the targeted therapeutics may restrict the middle and low income people to opt for such expensive treatment, especially in the underdeveloped and developing economies. Further, lack of consumer awareness is another restraining factor that may hamper the market growth during the forecast period.
By type, the monoclonal antibodies segment was the leading segment in 2020 owing to its extensive use for the treatment of cancer. Further, its lower toxicity and minimal side effects has gained consumers’ confidence that boosted its adoption across the globe. On the other hand, the small molecule segment is expected to grow rapidly owing to is rising adoption in the treatment of malignancies.
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By application, the lungs cancer segment dominated the market in 2020 owing to the increased cases of lungs cancer across the globe. This is the major reason for the increased demand for the targeted therapeutics to treat lungs cancer. Moreover, the breasts cancer segment is expected to flourish rapidly during the forecast period owing to the increased diagnosis of the breast cancer among the women population.
By distribution channel, the online pharmacies segment is expected to be the most opportunistic segment during the forecast period. The increased penetration of internet, rising adoption of digital devices, and rising popularity of online pharmacies among the consumers is boosting the growth of this segment.
Market Players
The reports cover key developments in this market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnerships & collaborations. These activities have paved the way for the expansion of the business and customer base of market players. The market payers from the targeted therapeutics market are anticipated to have lucrative growth opportunities in the future with the rising demand in this global market.
The report also includes the profiles of key targeted therapeutics market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information, key development in past five years.
Major companies operating in this report are:
- Pfizer, Inc.
- AstraZeneca Plc.
- Amgen, Inc.
- F. Hoffmann-La Roche & Co.
- Genentech, Inc.
- Agenus, Inc.
- Celdara Medical LLC
- Arcus Biosciences, Inc.
- Aurinia Pharmaceuticals Inc.
- Gilead Sciences, Inc.
- Serena Therapeutics Inc.
- Nektar Therapeutics Inc.
Segments Covered in the Report
By Type
- Monoclonal Antibodies
- Small Molecule
By Application
- Breast Cancer
- Colorectal Cancer
- Lung Cancer
- Renal Cancer
- Others
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
Why should you invest in this report?
If you are aiming to enter the global targeted therapeutics market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for targeted therapeutics are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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